Felon Gets $104 Million for Whistle-Blowing

Published on Wed, 09/12/2012 - 15:24
By FNNO Staff in analysis, business finance, fnno, irs, market, news, nyse: ubs, stock, trading
analysis, business finance, fnno, irs, market, news, nyse: ubs, stock, trading

When was the last time you heard of a convicted felon receiving $104 million from the government? If your answer was never, that changes today as former bank executive Bradley Birkenfeld is getting a huge monetary reward for his actions in a recent whistle-blowing case.

Birkenfeld, a former employee of UBS, helped expose illegal ways in which the bank enabled its clients to hide their money over-seas. Birkenfeld went to jail after confessing his part in these illegal activities and aided federal investigators in stopping others like himself.

Birkenfeld is receiving a reward of $104 million, but it is estimated by the LA Times that he recovered more than $5 billion dollars worth in taxes for the US government.

By FNNO Staff
fnnonline@gmail.com

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